“We have gotten complaints from many, many veterans from at least 10, significantly large for-profit institutions, that many veterans are not really being told the truth,” said Chris Madaio, the vice president for legal affairs at Veterans Education Success.
He said the problem is what’s called the 90/10 loophole.
“It says that for-profit colleges have to have at least have 10% of their total revenue from non-federal money,” Madaio said. “Here’s the loophole: veterans’ dollars, GI Bill dollars, did not count in federal dollars, so they counted as the 10% money that was ‘other’ that was supposed to be non-federal dollars. That’s ridiculous because obviously, GI Bill is federal money.”
“Students are a critical voice to come forward and say, ‘I have been hurt by the status quo,'” Madaio said.
Madaio went on to say, “[Recruiters] put pressure on [the potential student]. They talk about how, you know, your GI bill is going to cover everything when it often doesn’t. At some of these for-profit schools, their tuition is very high, especially for the low quality of education that they’re getting.”
Madaio said he is hopeful by November 1, a rule will be written and it can go into effect by July 1, 2023.
Read the full story here at WTKR News.